Mosaic (MOS) and AgBiome Team Up to Enhance Soil Health
The Mosaic Company MOS recently announced its collaboration with AgBiome to discover, develop and launch biological alternatives to enhance soil fertility.
Mosaic, which is among the prominent players in the fertilizers space along with Nutrien Ltd. NTR, CF Industries Holdings, Inc. CF and Yara International ASA YARIY, will leverage its expertise in soil health and product development as well as its world-wide distribution and sales network. The collaboration will also utilize AgBiome's proprietary GENESIS platform that comprises the world's biggest, most diverse, fully-sequenced collection of microbes along with innovative product discovery technology.
Mosaic and AgBiome support the development of innovative agricultural technologies that facilitate farmers to increase nutrient use efficiency and ultimately reduce fertilizer loss to the environment. Both companies are dedicated toward offering sustainable solutions to farmers that meet the present demand without sacrificing food production for the future. The partnership with AgBiome is expected to enhance Mosaic's soil health portfolio.
Mosaic, earlier this month, also announced a strategic partnership with Sound Agriculture to launch a revolutionary nutrient efficiency product. This product is expected to boost yields of major row crops and improve soil health. The two companies will get together for the development and distribution of a proprietary mix of Sound Agriculture’s bio-inspired chemistry and key micronutrients. The partnership enhances Mosaic’s current soil health portfolio, while providing another medium for a comprehensive and well-balanced approach to plant nutrition.
Mosaic, in its last earnings call, noted that it expects improving market dynamics that were witnessed in the second half of 2020 to continue through 2021. For 2021, Mosaic expects depreciation, depletion and amortization of $910-$920 million. The company also anticipates net interest expenses of $180-$190 million for 2021. Capital expenditures are forecast to be around $1.1 billion for 2021.
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